2 unchanged sentences
as set forth below.
−Removed: business could be harmed by prolonged power and internet outages, shortages, or capacity constraints and deployment delays.
−Removed: operations require a significant amount of electrical power and access to high-speed internet to be successful.
−Removed: If we are unable to secure
−Removed: sufficient electrical power, or if we lose internet access for a prolonged period, we may be required to reduce our operations or cease
−Removed: them altogether.
−Removed: We are also dependent upon our third-party energy providers to power miners upon installation, and there may be delays
−Removed: in deployment and implementation.
−Removed: If any of these scenarios occurs, our business and results of operations may be materially and adversely
−Removed: may face capital calls as a result of our existing loan agreements.
−Removed: October 2022, we borrowed an additional $50 million under our RLOC facility and provided an additional 3,993 bitcoin as collateral which
−Removed: increased the Company’s collateral balance to 7,821 bitcoin.
−Removed: On November 9, 2022, bitcoin prices declined to a new yearly low which
−Removed: triggered a capital call of an additional 1,669 bitcoin to cover collateral for our $50 million RLOC and $50 million term loan borrowings,
−Removed: bringing its total collateral balance to 9,490 bitcoin.
−Removed: The Company’s remaining unrestricted balance is 1,950 and any further
−Removed: decrease in bitcoin prices could cause us to have to pledge all or a substantial portion of our remaining bitcoin holdings.
−Removed: is no assurance that if there are continued marked decreases in the price of bitcoin that our remaining unrestricted bitcoin will be
−Removed: sufficient to cover further increased collateral requirements or that if not, that we would have sufficient capital to cover any resulting
−Removed: capital calls, which could result in our not being able to maintain liquidity and could force us to consider reorganization or liquidation.
−Removed: are subject to risks associated with our need for significant electrical power.
−Removed: operations have required significant amounts of electrical power, and, as we continue to expand our mining fleet, we anticipate our demand
−Removed: for electrical power will continue to grow.
−Removed: If we are unable to continue to obtain sufficient electrical power on a cost-effective basis,
−Removed: we may not realize the anticipated benefits of our significant capital investments.
−Removed: Additionally,
−Removed: our operations could be materially adversely affected by prolonged power outages.
−Removed: Therefore, we may have to reduce or cease our operations
−Removed: in the event of an extended power outage, or as a result of the unavailability or increased cost of electrical power.
−Removed: If this were to
−Removed: occur, our business and results of operations could be materially and adversely affected.
+Added: significant disruptions in the crypto asset markets, such as those experienced in the second half of 2022, may cause further material
+Added: impairment of the value and use of our mining rigs.
+Added: the fourth quarter of 2022, the per coin price of bitcoin reached a low of approximately $15,500 from a high of high of almost
+Added: $21,500 earlier in the quarter.
+Added: This decrease in the price of bitcoin combined with the general market sentiment caused in
+Added: large part by the FTX collapse and various bitcoin company related bankruptcies and restructurings led to a material decline in the
+Added: fair value of our mining rigs and deposits for future mining rig purchases.
+Added: As a result, we recorded an impairment charge of
+Added: $332,933 thousand on these assets during that period, although operations were unaffected and continued throughout.
+Added: future decreases in the value of bitcoin could cause us to record additional impairments in the value of these and future mining rig
+Added: addition, if bitcoin prices dropped to levels below that experienced in 2022 and held at those levels for a significant period of time,
+Added: it could impact our profitability to the point that we would have to consider whether there would be less diminution of value if we were
+Added: to leave certain of our miners to idle until the price of bitcoin recovered.
+Added: Theoretically, there is a minimum bitcoin price that is
+Added: so low that Marathon would want to turn off its miners.
+Added: However, this is a complex projection involving multiple ever-changing, dynamic
+Added: Marathon has multiple mining sites and hosting partners, all with different hosting prices, electricity prices, and contract
+Added: These costs, some fixed and some variable, would need to be compared to the current revenue being produced by the miners.
Unregistered Sales of Equity Securities and Use of Proceeds.
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.